Price, value sway U.S. consumers when choosing OTC medicines

SCHAUMBURG, Ill. Consumers in the United States place more importance on price and value when buying OTC medications compared to global consumers, according to an online survey conducted by The Nielsen Company and the Association of the European Self-Medication Industry.

Results of the survey, released Monday, showed that Americans ranked second in considering price of OTC products important, at 30 percent, compared to 33 percent of consumers in Japan. At the same time, 17 percent of global consumers consider price. A quarter of American consumers consider whether the product is a good value for money, compared to 15 percent of global consumers.

“With increasing medical costs and a fragile economy, the U.S. consumer is more price and value centric than ever,” NielsenHealth managing director Matt Dumas said. ”These findings highlight the rising importance of generic drugs in the U.S. market, which is underscored by low OTC product loyalty scores versus global markets.”

The survey included 28,253 Internet users in 51 markets in Europe, Asia Pacific, North America and the Middle East and was conducted between April and May.